MAXAMA: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
MAXAMA
Largest movements
- Cash -€2,548
down €2,548 (-3.5%), from €72,577 to €70,030
mainly Investment in fixed assets (net) (-€2,278) and Deferred charges and accrued income (-€2,165)
- Deferred charges and accrued income +€2,165
up €2,165 (+34.2%), from €6,333 to €8,498
- Receivables within one year -€1,229
down €1,229 (-40.0%), from €3,071 to €1,843
of which Trade receivables: -€1,890
- Tangible fixed assets +€867
up €867 (+54.2%), from €1,600 to €2,467
- Reserves +€1,590
up €1,590 (+9.3%), from €17,115 to €18,705
- Trade debts -€1,545
down €1,545 (-74.0%), from €2,087 to €542
- Taxes -€349
down €349 (-19.9%), from €1,753 to €1,404
- Depreciation +€296
up €296 (+26.6%), from €1,114 to €1,411
- Gross operating margin +€232
up €232 (+4.8%), from €4,871 to €5,103
- Financial income -€59
down €59 (-18.5%), from €316 to €257
- Financial charges -€56
down €56 (-23.6%), from €236 to €180
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €83,681 | €82,937 | -€745 | -0.9% |
| Fixed assets | 21/28 | €1,700 | €2,567 | +€867 | +51.0% |
| Tangible fixed assets | 22/27 | €1,600 | €2,467 | +€867 | +54.2% |
| Furniture and vehicles | 24 | €1,600 | €2,467 | +€867 | +54.2% |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €81,982 | €80,370 | -€1,612 | -2.0% |
| Amounts receivable within one year | 40/41 | €3,071 | €1,843 | -€1,229 | -40.0% |
| Trade receivables | 40 | €1,890 | - | -€1,890 | |
| Other amounts receivable | 41 | €1,181 | €1,843 | +€661 | +56.0% |
| Cash at bank and in hand | 54/58 | €72,577 | €70,030 | -€2,548 | -3.5% |
| Deferred charges and accrued income | 490/1 | €6,333 | €8,498 | +€2,165 | +34.2% |
| Total equity and liabilities | 10/49 | €83,681 | €82,937 | -€745 | -0.9% |
| Equity | 10/15 | €79,093 | €80,688 | +€1,595 | +2.0% |
| Contributions | 10/11 | €14,260 | €14,260 | = | 0.0% |
| Reserves | 13 | €17,115 | €18,705 | +€1,590 | +9.3% |
| Distributable reserves | 133 | €17,115 | €18,705 | +€1,590 | +9.3% |
| Profit (loss) carried forward | 14 | €47,718 | €47,723 | +€5 | 0.0% |
| Amounts payable | 17/49 | €4,588 | €2,249 | -€2,339 | -51.0% |
| Amounts payable within one year | 42/48 | €4,588 | €2,249 | -€2,339 | -51.0% |
| Trade debts | 44 | €2,087 | €542 | -€1,545 | -74.0% |
| Suppliers | 440/4 | €2,087 | €542 | -€1,545 | -74.0% |
| Taxes, remuneration and social security | 45 | €1,918 | €1,707 | -€211 | -11.0% |
| Taxes | 450/3 | €250 | - | -€250 | |
| Remuneration and social security | 454/9 | €1,668 | €1,707 | +€39 | +2.3% |
| Other amounts payable | 47/48 | €583 | - | -€583 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,114 | €1,411 | +€296 | +26.6% |
| Other operating charges | 640/8 | €746 | €771 | +€25 | +3.4% |
| Gross operating margin | 9900 | €4,871 | €5,103 | +€232 | +4.8% |
| Operating profit (loss) | 9901 | €3,011 | €2,922 | -€89 | -3.0% |
| Financial income | 75/76B | €316 | €257 | -€59 | -18.5% |
| Recurring financial income | 75 | €316 | €257 | -€59 | -18.5% |
| Financial charges | 65/66B | €236 | €180 | -€56 | -23.6% |
| Recurring financial charges | 65 | €236 | €180 | -€56 | -23.6% |
| Profit (loss) for the period before taxes | 9903 | €3,091 | €2,999 | -€92 | -3.0% |
| Income taxes | 67/77 | €1,753 | €1,404 | -€349 | -19.9% |
| Profit (loss) for the period | 9904 | €1,338 | €1,595 | +€257 | +19.2% |
| Profit (loss) for the period to be appropriated | 9905 | €1,338 | €1,595 | +€257 | +19.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.